SGX Nifty Futures Up, Indicate Strong Opening on Dalal Street: Global Cues

By Malvika Gurung — The listed on the Singapore-based Exchange SGX, an early indicator for , was trading 0.71% or 125.5 points higher at 9 am on Thursday, indicating a strong opening on Dalal Street.

Further, the and traded flat.

Major indices on Wall Street shot up on Wednesday and posted the highest single-day jump since Aug 10, as bond yields softened and investors appeared to shrug off hawkish remarks on rate hikes made by the Fed officials in the day.

Rate-sensitive stocks like Microsoft (NASDAQ:), Tesla and (NASDAQ:) rose the most as bond yield declined, giving a lift to the tech-heavy index , which snapped a 7-day long losing run and rallied 2.14%.

Indice jumped 1.8% and gained 1.4%. 

Stocks across Asian markets traded mostly higher on Thursday, tracking an overnight rally on Wall Street. Japan’s GDP for Q2 was revised upward to an annual rate of 3.5% growth, better than the initial estimate of 2.2%. 

At 8:50 am, South Korea’s gained 0.38%, Japan’s rallied 2.05% each, China’s slipped 0.06%, Hong Kong’s declined 0.4% and Australia’s surged 1.44%.

Oil prices surged on Thursday as a potential energy standoff between Russia and European countries overshadowed concerns related to mounting inflation and recession. jumped 1.06% to $88.9/barrel and surged 1.18% to $82.9/barrel. Futures traded flat.

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